Our philosophy is simple — pay for performance. Pay for performance is used throughout the company to reward employees in alignment with company and individual performance. Our goal is to be competitive in the markets where we compete. Every employee brings varied experiences and is compensated for the results of his or her performance.
Our compensation program includes more than competitive base pay. We offer incentive compensation to eligible employees, and our promote-from-within philosophy means that employees numerous opportunities to advance within our global company.
Medical and Prescription Drugs
We encourage you to be an active participant in your healthcare, so we provide a comprehensive toolkit of resources to help you make the most informed decisions about your benefit options. Our plan includes a number of unique features that help you spend healthcare dollars wisely. Features include:
- Choice of two coverage options including a Health Savings Account. A Health Savings Account can help you save for short- and long-term healthcare expenses and realize tax advantages.
- Preventive care services at no cost to you.
- Generic maintenance medications.
- Includes coverage for preventive and diagnostic care and basic and major restorative care.
- Covers eye examinations (including corrective lens fitting), eyeglass frames, eyeglass and contact lenses and discounts on laser vision corrective services.
Flexible Spending Accounts
- Allows employees to set aside pre-tax dollars annually through payroll deduction for eligible healthcare expenses.
Retirement Income Benefits
401(k) Plan - Textron Savings Plan
- Developing a retirement plan today helps you prepare for the future. Our 401(k) plan is a tool that you can use to save for the future—helping you to pursue your retirement goals.
- You contribute a percentage of pay on a pre- or after-tax basis via payroll deductions.
- Eligible employees receive a company matching contribution of up to 5% of eligible compensation.
- You are fully vested in the company matching contributions after five years of service.
- You may be eligible to receive an additional discretionary annual cash contribution that is separate from and in addition to the company match.
Life Insurance / Accident Insurance
- Company-paid life and accident insurance equal to a percentage of annual base salary.
- Employees can also purchase supplemental insurance at competitive group rates.
- Competitive disability benefits to compensate you during short- or long-term disabilities.
- Company-paid holidays and competitive vacation schedules.
- Paid personal time.